Expert: Allen - 3/16/2008

Question
Allen,
I am going to be taking my exhusband to court to make him comply with the divorce decree awarding me one half of a small retirement account with the Arizona State Retirement System.  Could an actuary help me figure out how much is owed to me?  How much should I expect to pay for such a service?  Thank you for taking the time to answer this.

Answer
An actuary could help you. The fee would depend on how many hours he or she must spend making the calculations. Without knowing the details on the benefit, it is difficult for me to give you a good estimate of the time. It may run $500 or it could be three or four times that.

However, you may not need an actuary. If the intention is for you to receive half the pension, your attorney can prepare what is known as a Qualified Domestic Relations Order which says that when your ex husband starts receiving benefits, you will get exactly half of what is paid. An actuary is needed if you are asking for a cash settlement today in lieu of half the pension when your ex husband retires.